Nuclearelectrica – net profit increasing by 30% after nine months

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Nuclearelectrica posted a profit growth of 29.6% after the first nine months of this year, the net result reaching 415.946 million lei, according to a statement issued by the company on Thursday.

“During the 9 months ending September 30, 2019, SNN achieved a net profit of 415,946 thousand lei, an increase of 29.6% compared to the same period last year. The operating result (EBIT) increased by 36.3%, and EBITDA an increase of 17.3% compared to the same period of the previous year, mainly as a result of the increase of the operating revenues by 15%, influenced by the increase of 16.6% of the revenues from the sale of electricity,” says SNN, according to Agerpres.

Operating revenues increased by 15%, determined by the 17% increase in the weighted average price of electricity sold between January 1 – September 30, 2019, compared to the weighted average price for the same period of 2018, when a similar quantity was sold (marking a decrease by only 1%).

The quantity of electricity sold on the competitive market of bilateral contracts decreased by 2%, benefiting from an increase of the average selling price in this market by 16%, while the quantity of electricity sold on the spot market (PZU) decreased by 33%, under the conditions of recording an average sale price on this market higher by 32% (price without network tarriff Tg).

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